With some filtering on the output to knock down harmonics and aliasing noise, and as long as the power output is low enough, this could actually be legal in the US. IANAL, etc, but this is my understanding: It's actually ridiculously tricky to measure transmitter power output in the terms that the FCC regs are written in, but the rule of thumb is that, given the receiver sensitivity of a typical radio, if you lose th…
But this kind of project (and a similar I saw that broadcasts on every FRS[1] channel at the same time) is a great example of something you can do with SDR that you cannot (easily) do with transistors and boring old analog radio.[2]
It is one of the reasons I enjoy it (playing around with SDRs and DSP) so much as I keep learning new things.
[1] Family Radio Service
[2] I know, I know, building 20 modulators isn't all that tough yadda yadda.